Skaltsis waives hearing

Skaltsis’ public defender, Carl Swenson, was unavailable for comment, but according to Jim Boffetti, Senior Assistant Attorney General of the Consumer Protection and Antitrust Bureau, Skaltsis had the right to waive the hearing.

“You have to sort of weigh the advantages of having one or not having one,” Boffetti said, explaining that each case is different. “It gives the defendant a chance to find out more information about the state’s case against them, but it is not a trial. It is just a preliminary hearing.”

Boffetti explained that during a probable cause hearing, the state has to show that there is probable cause to believe crimes against the defendant were committed.

“They need to show that there is enough evidence for a case to go on to the grand jury for the consideration,” he said.

With Skaltsis, 62, of 6 Erik Drive, waiving his hearing Friday, the matter is “bound over” from circuit to superior court.

“We would need to present this case to Strafford County grand jury and they have to decide whether or not to bring indictments,” Boffetti said.

This can take a few months.

Skaltsis was arrested Thursday, Jan. 24, and charged with 19 felony counts of theft for operating a fraudulent investment scheme. The Securities Regulation Bureau knows of 13 local residents who invested with Skaltsis, believing their money would be used to acquire, rehabilitate and resell distressed properties in Strafford County. They were promised 4-percent to 24-percent interest.According to a press release from the bureau, “The total amount of loss to those investors identified in the 19 charges is alleged to be $287,000.”

Only one of the 13 investors has received their money back in full.

The bureau also reported that Skaltsis’ total debts, between prior investments, secured deals, personal loans, partnership deals, a defaulted mortgage and the judgment against him brings his total debts to more than $1.2 million.